Elizabeth Warren pushes for stock trading ban, even for ‘Democratic Speaker of the House’

  • Elizabeth Warren said banning lawmakers from trading stocks should be a key priority for Democrats.
  • She says it’s “obvious” to the American people “whether you’re a Republican senator or the Democratic Speaker of the House.”
  • Warren’s op-ed comes as lawmakers in both chambers struggle to pass a bill.

Senator Elizabeth Warren of Massachusetts said barring members of Congress from trading stocks should be a top priority for Democrats ahead of the 2022 midterm elections.

In a New York Times op-ed published on Monday, the liberal Brandon and 2020 presidential candidate outlined several priorities that she says can help her party avoid “big midterm losses,” including passing a reconciliation bill that includes provisions from the original ‘Build Back Better’ climate and social spending bill while delegating some aspects of that legislation to President Joe Biden’s executive authority.

But beyond that, Warren cited polls showing the public has “identified corrupt government officials as a top concern.”

“They’re right,” the Massachusetts Democrat wrote. “To address the pressing challenges we face – climate change, income inequality, systemic injustice – we must stamp out corruption. To begin cleaning up government, members of Congress and their spouses should not be authorized to own or trade individual shares.”

Insiders’ “Conflicted Congress” investigation, which found that nearly 60 members of Congress and more than 180 senior congressional officials failed to promptly disclose their stock trades in accordance with federal law, also documented several instances in which members of Congress served on committees. oversee certain industries even though they were personally invested in those industries.

Warren then delivered an implied jab at House Speaker Nancy Pelosi, who first drew criticism for her strident opposition to a stock trading ban before later warming to the idea, provided that her caucus supports her.

“Whether you are a Republican Senator or the Democratic Speaker of the House, it is obvious to the American people that they should not be allowed to trade individual stocks and then vote on laws that affect those companies,” Warren wrote. , noting that his own bill to ban the practice — the “Bipartisan Congressional Stock Ownership Ban Act” — is the most sweeping and currently the only bipartisan bill to ban the practice. the trading of shares in the Senate.

Warren has been among the most aggressive proponents of banning lawmakers from trading individual stocks, telling Insider in February that she would like to see the idea extended to lawmakers and state governors as well.

The senator’s op-ed comes as lawmakers from both chambers seek to reach an agreement on legislation that would address an issue that polls show is hugely popular with the American public.

Following the first House hearing on reforming stock trading rules for lawmakers, 19 bipartisan House members are lobbying the House Administration Committee to steer toward the markup of a bill.

And in the Senate, Democratic Senator Jeff Merkley said all of his fellow Democrats agreed with the basic idea, but argued that time is running out for lawmakers to come to an agreement on a plan, given the nature of a midterm election. year.


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